Hanes Geo Components To Acquire Price And Company

Winston Salem, N.C.-based Hanes Geo Components — a supplier of performance products for
construction, landscape, erosion control and turf applications, and a business segment of Hanes
Companies Inc. — has announced it will acquire Price and Company, a distributor of erosion control
products and systems for site civil improvement systems and surface water quality treatment. Price
and Company was founded in 1968 by John Price and has offices in Detroit and Grand Rapids, Mich.

“With their focus on distribution of geotextile, erosion control, and storm water products,
Price and Company is an excellent operational fit with Hanes Geo Components,” said John Dowdell,
president, Hanes Geo Components. “Price and Company’s outstanding reputation as an ethical and well
managed business team also makes them an excellent cultural fit to our organization.”

“We are excited to enter this next phase of development,” said John Price, president and CEO,
Price and Company. “By aligning with Hanes Geo Components, I am confident that the Price and
Company team will be well positioned to continue our leadership position for many years to come in
markets we service.”

Hanes Companies established the Hanes Geo Components business unit in 2005. Since that time,
Hanes Geo Components has acquired six companies including Price and Company. According to Hanes
Companies President Jerry Greene, Hanes Geo Components has been experiencing strong growth despite
the difficult economic environment. The company recently established operations in Miami and
Oklahoma City and expanded its operations in Salt Lake City, and has 29 locations throughout North
America. Continuing growth is expected not only within the business unit but also within the
markets serviced by Price and Company, and Dowdell expects the company will add jobs over time.

August 16, 2011